A new financial institution, Sun Trust Bank, makes a formal presentation to the public today, Monday August 15, 2016. The bank, recently licenced by the Central Bank of Nigeria (CBN), has its head office located at N0 1. Olashore street, Off Sanusi Fafunwa Street, Victoria Island, Lagos Nigeria. It plans to open its doors for business today. The bank, More...

by hallmarknews | Published 1 year ago
By Felix OLOYEDE On Friday, August 5th, 2016

Nigeria’s FCMB plans capital raising of up to 15 bln naira -CEO

Ladi Balogun said its capital ratio was close to the regulatory limit of 15 percent by half-year, and that it was doing the capital raising to provide some cushion. He said the bank was also slowing down loan growth. “For More...

By hallmarknews On Tuesday, January 12th, 2016
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CBN N300bn for agric lending in 2016: Another ruse?

DON OKERE|   The Central Bank of Nigeria (CBN) and Deposit Money Banks (DMBs) have reportedly set aside N300 billion for agricultural lending in 2016 apparently in an effort to grow and diversify the economy from More...

By hallmarknews On Monday, January 4th, 2016

Naira weakens against dollar at parallel market

The naira on Monday depreciated by 0.8 percent to exchange at N265 to the dollar at the parallel market. The greenback lost N2 to the dollar from its weekend value of N263. However, at the official interbank window, More...

By hallmarknews On Thursday, December 31st, 2015

Nigeria’s foreign reserves drop to $29.13bn

The Central Bank of Nigeria (CBN) on Friday said that the nation’s foreign exchange reserves declined to $29.13 billion as at December 29. The bank said on its website that the drop represented 2.43 percent from More...

By hallmarknews On Tuesday, December 22nd, 2015

ETI announces Charles Kié MD designate Ecobank Nigeria

The board of directors of Ecobank Nigeria has announced the appointment of Mr. Charles Kie as the new Managing Director designate of Ecobank Nigeria Limited effective January 1, 2016 subject to the approval of the More...

By hallmarknews On Monday, December 14th, 2015

Gloomy times ahead as forex challenge persists

Continuing difficulties by manufacturers and other importers in accessing foreign exchange or at least the statutory form ‘M’ cover for imports is setting the stage for a quite gloomy 2016, Business Hallmark More...

By hallmarknews On Monday, December 7th, 2015

Banks’ profitability outlook to improve over MPC decisions

At the Central Bank of Nigeria’s last Monetary Policy Committee meeting of Tuesday, November 24, 2015, the apex bank reduced its Monetary Policy Rate (MPR) moving it down from 13 percent to 11 percent. It also More...

By hallmarknews On Thursday, December 3rd, 2015

DMO to sell N50bn worth of bonds on December 9

The Debt Management Office (DMO) says it will raise N50 billion worth of bonds in two categories on December 9. The DMO disclosed this in its ‘bond circular’ posted on its website on Thursday. According More...